More homes to fit multi-generations under one roof: U.S. survey

More homes to fit multi-generations under one roof: U.S. survey

Facing increasingly difficult financial and housing situations, more and more Americans have been combining multi-generations under one roof, according to a new survey or realtors.

Some 37 per cent of Coldwell Banker Real Estate agents surveyed in January said in the past year, buyers were increasingly shopping for homes that fit more than one generation. Next year that will be even more true, say those agents, with 70 per cent predicting economic conditions in 2011 will drive even greater demand for this type of housing.

"While saving money is certainly an incentive for buying a home that accommodates multiple generations, the benefits go beyond just financial reasons," says Diann Patton, a Coldwell Banker real estate consumer specialist. "With two or three generations living under one roof, families often experience more flexible schedules, quality time with one another and can better juggle childcare and eldercare."

The survey listed financial concerns as the primary cause to combine generations under one roof, at 39 per cent, but close behind was health concerns, at 29 per cent.

Coldwell Banker recommends in its release that families consider signing a written contract outlining "everything from finances to chores and childcare" before moving in.